Operating Room Equipment Market Size, Share & Trends Analysis Report By Product (Anesthesia, Endoscopes, Electro Surgical Devices, Surgical Imaging), By End User, By Region, And Segment Forecast, 2023 - 2030

Operating Room Equipment Market Size, Share & Trends Analysis Report By Product (Anesthesia, Endoscopes, Electro Surgical Devices, Surgical Imaging), By End User, By Region, And Segment Forecast, 2023 - 2030

Operating Room Equipment Market Growth & Trends

The global operating room equipment market size is expected to reach USD 75.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2023 to 2030. The key factors driving the market growth include an accelerating number of surgeries, an increasing burden of disease, a rising geriatric population, operating room (OR) technologies, expansion of hospitals with new operating rooms, and government support are the factors driving the operating room equipment market.

According to NCBI study, 310 million major procedures are conducted a year worldwide, with between 40 to 50 million taking place in the United States and 20 million in Europe. Additionally, The British Heart Foundation's 2021 study revealed that 371,000 heart procedures and operations took place in England during 2020. Furthermore, another NCBI article from 2022 indicates that almost 400,000 Coronary Artery Bypass Grafting (CABG) surgeries are performed each year. The rising geriatric population and the increasing prevalence of lifestyle diseases also contribute to the growth of this market by augmenting the annual rate of surgeries. All such factors are expected to fuel the growth of market.

The market was significantly impacted by COVID-19. The high risk of COVID-19 transmission in ORs, surgery suspension, and declining rate of surgeries have impacted the market to some extent. Furthermore, surgical delays throughout across the hospitals and cancellation of non-urgent procedures have potentially resulted in worsened patient outcomes. These factors have significantly created losses in hospital revenue as well as the growth of the operating room market.Also, major players such as Medtronic and Stryker witnessed decrease in their overall revenue due to negative impact of pandemic.

Furthermore, the key participants are engaged in different strategies to expand their global footprints with innovation, mergers & acquisitions, agreements, collaborations, product launches, and installation of operating rooms across the globe. For example, Steris Corporation has installed more than 6,000 operating rooms across North America.

Operating Room Equipment Market Report Highlights

• On the basis of product, the anesthesia segment held the largest market share of 29.86% in 2022. Technological advancements, minimally invasive surgeries, and the presence of various types of anesthesia devices are factors driving the market
• On the basis of end users, the hospital segment dominated the operating room equipment market with a revenue share of 75.06% in 2022. The growth is attributed to the demand for operating room equipment in hospitals owing to the burden of diseases, the rising number of surgical procedures, the developing healthcare infrastructure with new operating rooms, favorable reimbursements, etc.
• North America dominated the market in 2022, accounting for the largest market share of 35.99%, and is anticipated to maintain this position over the forecast period. The demand for minimally invasive surgeries, penetration of technology, and the developing of new operating rooms are flourishing in the market
• The Asia Pacific region is expected to witness growth at a rapid pace over the forecast period. The region is driven by factors such as big patient pool of chronic diseases, and rising number of hospitals, emerging demand for OR equipment in operating rooms

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